We will have some important discussion over Forex trading for Beginners. I am not going to make you bored by talking too much. But, I will get into the main point straight away for your Forex trading and for you Stock market trading. The most important question to ask is where is the winning opportunity for Forex Trading? This is the question every trader should and must ask. The simple answer is that this image visualize such a winning opportunity.
Say that the market or for an example, EURUSD or Bitcoin have the large cycle and small cycle. Your best opportunity will be in the area where both small and large cycles are boosted together shown as the dotted line in the image. That is the thin intersection where both experienced momentum trader and experienced reversal trader are jumping in together. However, there is one problem in this image although its concept is perfectly sound. For example, the market does not have the deterministic cycle, which we can track its peak and trough with fixed time interval as in the sine curve of the Physics text book. Hence, this image is only educational to conceptualize the trading idea. If it was like that, the money making in Forex or Stock market would have been so much easier buying EURUSD on Monday low and selling at Friday high something like this or similar. In fact, what makes us hard is that the market cycle is non deterministic or stochastic.
Market cycle is fuzzy and dirty like this image. Sometimes, price is in slow cycle and sometimes price in fast cycle. Sometimes price swings around big amplitude and sometimes price swings around only small amplitude. It is the observations we can make every day in Forex and Stock market, the fuzzy and dirty cycles instead of the clean sine curve like cycle.
Here is the main catch. Fractal Wave is the representation of this fuzzy and dirty cycles in the financial market. It is almost the direct representation of this fuzzy and dirty cycles. Hence, the Fractal Wave derived technical analysis is good help in finding the right timing to enter the market. In fact, these are the timing tool for your trading in the first hand. I listed the fractal wave derived technical analysis for your information here.
Support and Resistance (Horizontally drawn lines)
Support and Resistance (Diagonally drawn lines)
Fibonacci Ratio analysis
Elliott Wave Theory
X3 Chart Pattern Framework
Ascending Triangle Pattern
Descending Triangle Pattern
Falling Wedge Pattern
Rising Wedge Pattern
Supply and Demand Zone
Point & Figure Chart
Head and Shoulder pattern
Reverse Head and Shoulder pattern
Many Swing Trading Strategies
Peak Trough Analysis
ABC or 123 pattern
And many more
Now, let us going back to this educational image as we have some more points to add. Technically speaking, the good trading opportunity will be there where small and large cycles are boosted together. Now we have learnt that. Then starter will have the question something like this. Then how to find opportunity like this where small and large cycles are boosted together in the Fractal Wave way?
In the Fractal Wave way, catching the moment where the small and large cycles are boosted together is done by combining more than two techniques to gauge your entry instead of just using one single technique. Hence, if you want to become a good trader, then training and practice are a must requirement. Here is one final note. As the market is non deterministic meaning that the market only follows the probabilistic cycle, your outcome is not going to be bullet proof. Therefore, we should trade with the high probability setup and never let your emotion to ruin your trading.
You can have a look what our tools look like. However, using our tools is your choice only. We will never force you to buy our tools when you are not ready to use them.
1. Harmonic Pattern Plus for MetaTrader
Harmonic Pattern Plus is the harmonic pattern scanner. It can detect 11 most popular harmonic patterns with well-defined trading entries and stops. Pattern Completion Interval, Potential Reversal Zone and Potential Continuation Zone are supported. In addition, other dozens of powerful features are added like Japanese candlestick detection, etc.
X3 Chart Pattern Scanner is non repainting and non lagging pattern scanner for Harmonic Pattern, Elliott Wave pattern and X3 patterns. As a bonus, this tool can detect around 52 bearish and bullish Japanese candlestick patterns + advanced Channel features. This is the most advanced Harmonic and Elliott wave scanner in the market. You must try.
Advanced Price Pattern Scanner is the automatic price pattern scanner. It is designed to scan the Triangle, Falling Wedge, Rising Wedge, Double Top, Double Bottom, Head and Shoulder, Reverse of Head and Shoulder, Cup and Handle or Cup with Handle, Reverse of Cup and Handle or Cup with Handle. What is even better? This is non-repainting and non-lagging indicator. Here is link for more information
Price Breakout Pattern Scanner is the automatic pattern scanner designed to detect the Triangle, Falling Wedge, Rising Wedge, Double Top, Double Bottom, Head and Shoulder, Reverse of Head and Shoulder. Although this scanner is repainting, this scanner comes with powerful built in features like Japanese candlestick pattern detection + Smart Renko features. With all these features together, this pattern scanner forms the powerful trading system for Forex market.
Fractal Pattern Scanner is our next generation price breakout pattern scanner. Unlike previous two price breakout pattern scanner detect price patterns like triangle and wedge patterns, Fractal Pattern Scanner detect the price breakout pattern using Statistical method with Elliott Wave like concept (i.e. Mother Wave and Child Wave). Hence, there is a huge difference in the detection of breakout patterns in Fractal Pattern Scanner from rest. However, Fractal Pattern Scanner is the powerful breakout pattern scanner as it provides the reversal (i.e. turning point) trading opportunity as well as breakout trading signals. Fractal Pattern Scanner also support Multiple timeframe pattern scanning with fully automated breakout signal generations.